Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,181 shares of the construction company’s stock after selling 1,222 shares during the period. Montag A & Associates Inc.’s holdings in Martin Marietta Materials were worth $3,583,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MLM. Commonwealth Equity Services LLC lifted its position in shares of Martin Marietta Materials by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 7,900 shares of the construction company’s stock worth $3,243,000 after purchasing an additional 97 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Martin Marietta Materials by 9.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,834 shares of the construction company’s stock valued at $2,805,000 after purchasing an additional 615 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $430,000. Mackenzie Financial Corp increased its stake in shares of Martin Marietta Materials by 3.6% during the third quarter. Mackenzie Financial Corp now owns 5,295 shares of the construction company’s stock valued at $2,141,000 after acquiring an additional 182 shares during the period. Finally, IFM Investors Pty Ltd increased its stake in shares of Martin Marietta Materials by 4.6% during the third quarter. IFM Investors Pty Ltd now owns 12,418 shares of the construction company’s stock valued at $5,097,000 after acquiring an additional 551 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 over the last ninety days. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Raymond James raised their price objective on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Finally, StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $598.17.

Martin Marietta Materials Stock Up 1.1 %

Shares of MLM stock traded up $6.56 on Thursday, hitting $603.20. The company’s stock had a trading volume of 269,177 shares, compared to its average volume of 415,079. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm’s fifty day moving average price is $601.31 and its 200-day moving average price is $526.64. The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.80 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $2.16 EPS. Martin Marietta Materials’s quarterly revenue was down 7.6% compared to the same quarter last year. Research analysts anticipate that Martin Marietta Materials, Inc. will post 21.7 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a dividend of $0.74 per share. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.49%. Martin Marietta Materials’s payout ratio is 8.77%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.